17-Aug-2018 Agri Commodity Update
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Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
AUG
4950
4955
4828
SUPPORT
SUPP.1
SUPP. 2
4862
4781
4943
4908 RESISTANCE
RES. 1
RES. 2
4989
5035
-0.75
6790
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7050
7056
6952
SUPPORT
SUPP. 1
SUPP. 2
6969
6908
7030
7012 RESISTANCE
RES. 1
RES. 2
7073
7116
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.28
3250
Turmeric short term trend is bearish and may continue in coming days.
AUG
9580
9997
9545
SUPPORT
SUPP. 1
SUPP. 2
9445
9269
9622
PIVOT
INTRADAY LEVELS
9721 RESISTANCE
RES. 1
RES. 2
9897
10173
3.20
31870
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS Symbol
Expiry Date
Current Price
Change
NCDEX INDICES
Change %
GUAR SEED 10 MT
16-10-2018
4588.50
198.50
4.52%
Index
GUAR GUM 5 MT
16-10-2018
9875.00
421.00
4.45%
Castorseed
4660
4554
2.33
MAIZE FEED/INDUSTRIAL GRADE
20-08-2018
1310.00
22.00
1.71%
Chana
4325
4291
0.79
CASTOR SEED
20-08-2018
4603.00
57.00
1.25%
Coriander
4845
4898
-1.08
RAPESEED-MUSTARD SEED
20-08-2018
4120.00
21.00
0.51%
Guargum5MT
8880
8785
1.08
Jeera
19080
19160
-0.42
Musterseed
4129
4108
0.51
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
CORIANDER
20-08-2018
4840.00
-82.00
-1.67%
TURMERIC
20-08-2018
6954.00
-46.00
-0.66%
Soybean
3346
3317
0.87
JEERA
20-08-2018
19080.00
-85.00
-0.44%
Turmeric
6960
7012
-0.74
Agri Commodity Update Commodities In News With the Goa posting annual increase in the Cashew production, the government is all set to regenerate about 5,000 hectares of old Cashew plantations in next 10 years to further increase the yield of Cashew in Goa. The department of agriculture will implement the Cashew plantation rejuvenation scheme under the National Horticulture Mission. Presently, the total area with the Goa Forest Development Corporation under Cashew cultivation is 8,971.037 hectares. During the year 2017-18, the Cashew production in Goa was 28,012 tonne as compared to 24,396 tonne in 201617 and 17,549 in 2015-2016. In the past two months, the rupee has depreciated by almost 2 per cent. Exporters and analysts are expecting weak rupee to help in boost exports and support prices of agriculture commodities. Farmers are likely to benefit from getting higher prices for their produce. Contracts for commodities such as Basmati Rice, Groundnut, Soyabean meal, Cotton and Mentha Oil, the harvest of which will begin in the next one month, are currently being signed by exporters. These are usually signed in dollar terms and with the local currency ruling low, exporters will get more rupees for the dollar earnings. India imported 11,19,538 tonnes of vegetable oil (comprising both edible and non-edible oils) in July, declined 27% as compared to 15,24,724 tonnes in the same month last year, according to latest data released by the Solvent Extractors’ Association of India (SEA). The current revision of import duty in June 2018, fast rupee depreciation and also credit crunch has led to negative growth in imports of vegetable oils," SEA said. The rupee hit an all-time low of 70.1 to a US dollar on concerns over Turkey's economic woes. Edible oil imports declined to 1.05 million tonnes in July from 1.48 million tonnes in the same month last year.
ECONOMIC NEWS
Acting on advice of an expert committee, the Centre has banned use of 12 pesticides with immediate effect and issued orders for banning six others from December 31, 2020 as their use is hazardous for humans and animals. The expert committee, constituted in July 2013, had reviewed the use of a total of 66 pesticides and submitted its report to the agriculture ministry two years later, recommending banning 18 of them. Incidentally, all the 66 pesticides are banned, restricted or withdrawn in one or more countries across the globe but continued to be used in India. The government then took more than two-and-ahalf years to finally act on the recommendation of the committee and notified the ban on those 18 pesticides on August 8.
The southwest monsoon has entered a vigorous phase, soaking dry fields in central and western India and filling up depleted reservoirs, but unrelenting showers have swamped farms and plantations in the south and may cause yet more damage in other regions in the next two weeks. The rain has led to death and devastation in Kerala due to flooding as reservoirs have swelled and the shutters of dams had to be opened. The surge in rainfall in the past week after an erratic two-and-a-half months has cheered farmers in many parts of the country, particularly rain-starved soybean farmers in central India, but brought misery to Kerala, where the worst deluge in almost a century has destroyed half the cardamom planted and damaged plantations of rubber, coffee and several spices. It has led to an estimated 47 deaths and rendered thousands of people homeless. The state government said Kochi airport would remain shut until Saturday because of the flood threat. Flood waters have inundated 28,000 hectares in the southern state, causing a loss of Rs 680 crore to 180,000 farmers, including Rs 310 crore to paddy fields in Alappuzha and Rs 93 crore in the rubber belt of Kottayam, the Kerala agriculture secretary DK Singh told ET.
Agri Commodity Update Technical Outlook
SELL CORIANDER SEP BELOW 4870 TARGET 4850/4830/4810 SL 4900
BUY GUARGUM5 OCT ABOVE 10050 TARGET 10090/10130/10170 SL 10000
SELL TURMERIC SEP BELOW 7000 TARGET 6970/6940/6910 SL 7040
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